BTC - Critical point here - But long-term is up
BTC is at a critical point right here, at 34,700. It has to hold this line. If it spends one full day below this line, it may continue sliding down.
However, if it does break down, it would be prudent to take advantage of the lower prices to add a little on the way down, perhaps buying a little every $1,000 down.
We know at some point in the near future, BTC will hit 100k and beyond. So any buying here is going to pay off well, especially at cheaper prices.
Remember BTC's 4-year cycle. After the halvings of 2012 and 2016, BTC recorded parabolic rises stretching some 13 to 17 months after the halving.
The last halving was in May of 2020. If the 4-year cycle repeats - and the code indicates it will - we will most likely see another parabolic rise culminating around June to October of this year.
How high will the next parabolic rise go? I looked at the previous 4-year cycles and calculated the figure $270,000. For a run-down of those calculations based on prior 4-year cycles, see my article which I wrote back in March, but the figures are still pertinent:
However, if it does break down, it would be prudent to take advantage of the lower prices to add a little on the way down, perhaps buying a little every $1,000 down.
We know at some point in the near future, BTC will hit 100k and beyond. So any buying here is going to pay off well, especially at cheaper prices.
Remember BTC's 4-year cycle. After the halvings of 2012 and 2016, BTC recorded parabolic rises stretching some 13 to 17 months after the halving.
The last halving was in May of 2020. If the 4-year cycle repeats - and the code indicates it will - we will most likely see another parabolic rise culminating around June to October of this year.
How high will the next parabolic rise go? I looked at the previous 4-year cycles and calculated the figure $270,000. For a run-down of those calculations based on prior 4-year cycles, see my article which I wrote back in March, but the figures are still pertinent:
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